No, this will not result in a special dividend. The company has indicated that the funds released from the sale of the bank will be will be injected into Challenger Life. Goldman Sachs estimates this will increase CGF's PCA (Prescribed Capital Amount) by about .014, taking CGF from1.49x PCA to 1.504 - just in the top half of the target PCA range of 1.3-1.7x PCA. This increase is supportive of a higher regular dividend, in line with the revised guidance and the past practice of a 40% payout ratio.
Ann: Final regulatory approvals received for Challenger Bank sale, page-3
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Last
$6.64 |
Change
0.080(1.22%) |
Mkt cap ! $4.589B | |||
| Open | High | Low | Value | Volume |
| $6.54 | $6.66 | $6.53 | $13.74M | 2.069M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5500 | $6.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.65 | 3236 | 2 |
View Market Depth
| Last trade - 16.10pm 05/06/2024 (20 minute delay) ? |
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Last
$6.63 |
Change
0.080 ( 1.18 %) |
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| Open | High | Low | Volume | ||
| $6.55 | $6.66 | $6.53 | 170229 | ||
| Last updated 15.59pm 05/06/2024 ? | |||||
| CGF (ASX) Chart |